$3.5 Billion in NMTCs Awarded

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LIIF was selected as one of 87 organizations nationwide to receive an allocation of New Markets Tax Credit (NMTC) from the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund. Selected from a pool of 310 applicants, LIIF received an allocation of $48 million, its seventh allocation award. Affordable Housing Finance covered the announcement of the latest round of NMTC awards from the CDFI Fund and featured LIIF as one of the leading allocatees.

LIIF’s Chief Operating Officer and Executive Vice President of Community Investments and Programs Kim Latimer-Nelligan weighed in on the importance of NMTC program noting, “The New Markets Tax Credit program is one of the most effective tools available to LIIF to fulfill our vision for innovative, holistic approaches to community development. Our allocation last year enabled LIIF to attract private capital into projects that increased access to fresh food, high quality education, health care and transit, often connected with affordable housing in distressed neighborhoods.”

Read the full article at Affordable Housing Finance

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Source: Affordable Housing Finance